Regency Centers Announces Promotion of Brian Smith to Chief Investment Officer

"Under Brian's leadership during the past five years, the Pacificand Mid-Atlantic teams have started almost $1 billion in developmentactivity and have generated approximately $300 million in profits andnet value for Regency," said Martin E. Stein, Jr., Chairman and ChiefExecutive Officer. "Brian has been integral to the growth, success,and profitability of Regency's national development and investmentprogram. I am confident that as the company's CIO Brian will leadRegency's talented and deep investment team to enhance the Company'spresence in key markets and our excellent relationships with importantretailers to further increase the growth of value creatingdevelopment."

With more than 27 years of management and real estate experience,Smith has directed Regency's investment activity for the PacificRegion, which includes California, Oregon, Washington and Nevada, andhas also managed the investment activity in the Mid-Atlantic/NewEngland region. Prior to joining Regency, Smith served as senior vicepresident for Lowe Enterprises, Inc., where he was the senior retailexecutive in the company. He began his real estate development careerat Trammell Crow Company, which he joined in 1984, ultimately becominga partner in the firm and a member of the company's National RetailExecutive Committee.

According to Stein, the position of Chief Investment Officer wascreated to help sustain the substantial growth and benefit from theexciting future prospects of Regency's development and acquisitionprogram. "Since Regency went public in 1993, Regency has grown from aregional company into the leading national owner, operator anddeveloper of neighborhood and community shopping centers with an $8.3billion shopping center portfolio," added Stein. "A key catalyst ofour transformation has been Regency's ability to dramatically andprofitably expand this portfolio through the development andacquisition of quality shopping centers. Regency is fortunate to havea CIO with Brian's exceptional talents, whose sole focus will beincreasing the growth of this strategy, which is so critical to addingvalue for our shareholders."

Regency Centers Corporation (NYSE:REG)

Regency is the leading national owner, operator, and developerfocused on grocery-anchored, neighborhood and community retailcenters. At June 30, 2005, the Company owned 383 retail properties,including those held in joint ventures. Including tenant-owned squarefootage, the portfolio encompassed 48.9 million square feet located intop markets throughout the United States. Since 2000 Regency hascompleted 92 shopping center developments at a net investment of $1.2billion. Operating as a fully integrated real estate company, Regencyis a qualified real estate investment trust that is self-administeredand self-managed.